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Australian (ASX) Gold Industry Analysis

UpdatedFeb 07, 2026
DataAggregated Company Financials
Companies153
  • 7D-9.0%
  • 3M19.9%
  • 1Y90.2%
  • YTDn/a

Over the last 7 days, the Gold industry has dropped 9.0%, driven by Northern Star Resources declining 7.5%. In contrast, Solstice Minerals has gained 157%. This takes the industry's 12 month performance to a gain of 90%. As for the next few years, earnings are expected to grow by 24% per annum.

Industry Valuation and Performance

Has the Australian Gold Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 07 Feb 2026AU$167.4bAU$26.3bAU$4.6b28.6x36.8x6.4x
Mon, 05 Jan 2026AU$162.7bAU$26.4bAU$4.6b26.1x35.6x6.2x
Wed, 03 Dec 2025AU$153.2bAU$26.5bAU$4.6b25.3x33.5x5.8x
Fri, 31 Oct 2025AU$135.3bAU$26.4bAU$4.6b24.1x29.5x5.1x
Sun, 28 Sep 2025AU$133.7bAU$26.3bAU$4.7b18.8x28.6x5.1x
Tue, 26 Aug 2025AU$109.8bAU$25.0bAU$4.5b16.9x24.2x4.4x
Thu, 24 Jul 2025AU$102.0bAU$22.1bAU$3.1b17.9x33x4.6x
Sat, 21 Jun 2025AU$102.7bAU$22.3bAU$3.1b19.1x33.3x4.6x
Mon, 19 May 2025AU$95.3bAU$22.4bAU$3.1b20.2x30.7x4.3x
Wed, 16 Apr 2025AU$95.4bAU$22.2bAU$3.0b19x31.3x4.3x
Fri, 14 Mar 2025AU$79.5bAU$22.1bAU$3.0b18.6x26.5x3.6x
Sun, 09 Feb 2025AU$82.1bAU$18.6bAU$1.8b20.3x44.7x4.4x
Tue, 07 Jan 2025AU$70.9bAU$18.6bAU$1.8b21.1x39.1x3.8x
Thu, 05 Dec 2024AU$72.3bAU$18.6bAU$1.8b21x39.9x3.9x
Sat, 02 Nov 2024AU$77.5bAU$18.4bAU$1.8b23.6x43x4.2x
Mon, 30 Sep 2024AU$70.2bAU$18.3bAU$1.8b22.1x38x3.8x
Wed, 28 Aug 2024AU$65.2bAU$17.5bAU$1.4b20.7x47.9x3.7x
Fri, 26 Jul 2024AU$60.5bAU$16.1bAU$1.1b22.9x55.6x3.8x
Sun, 23 Jun 2024AU$57.6bAU$16.1bAU$1.1b20.3x53x3.6x
Tue, 21 May 2024AU$61.8bAU$17.1bAU$1.2b23.4x52.2x3.6x
Thu, 18 Apr 2024AU$58.6bAU$17.2bAU$1.2b23.2x48.6x3.4x
Sat, 16 Mar 2024AU$52.2bAU$16.8bAU$1.3b19.5x40.6x3.1x
Mon, 12 Feb 2024AU$48.8bAU$15.3bAU$279.1m22.8x175x3.2x
Wed, 10 Jan 2024AU$74.0bAU$22.9bAU$1.3b23.1x55x3.2x
Fri, 08 Dec 2023AU$74.5bAU$22.9bAU$1.3b23.5x55.2x3.3x
Sun, 05 Nov 2023AU$69.6bAU$22.8bAU$1.3b22.1x52.1x3x
Tue, 03 Oct 2023AU$66.2bAU$23.0bAU$1.4b22.1x48.9x2.9x
Thu, 31 Aug 2023AU$70.8bAU$22.7bAU$1.2b19.4x59.1x3.1x
Sat, 29 Jul 2023AU$69.9bAU$22.3bAU$551.1m18.1x126.8x3.1x
Mon, 26 Jun 2023AU$67.2bAU$22.3bAU$553.8m16.7x121.4x3x
Wed, 24 May 2023AU$71.1bAU$22.4bAU$587.5m18.6x120.9x3.2x
Fri, 21 Apr 2023AU$75.9bAU$22.2bAU$570.6m18.6x133.1x3.4x
Sun, 19 Mar 2023AU$62.9bAU$22.4bAU$628.4m14.6x100.1x2.8x
Tue, 14 Feb 2023AU$65.8bAU$20.8bAU$1.2b18.6x57.2x3.2x
Price to Earnings Ratio

57.2x


Total Market Cap: AU$65.8bTotal Earnings: AU$1.2bTotal Revenue: AU$20.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Gold Industry Price to Earnings3Y Average 62x202420252026
Current Industry PE
  • Investors are pessimistic on the Australian Gold industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 36.8x which is lower than its 3-year average PE of 62.0x.
  • The 3-year average PS ratio of 3.9x is lower than the industry's current PS ratio of 6.4x.
Past Earnings Growth
  • The earnings for companies in the Gold industry have grown 58% per year over the last three years.
  • Revenues for these companies have grown 8.1% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Australian Gold compare with similar industries?

AU Market-2.49%
Materials-5.31%
Metals and Mining-5.46%
Gold-8.96%
Steel-0.95%
Diversified Metals and Mining-4.76%
Aluminum-6.27%
Copper-8.08%
Precious Metals and Minerals-9.35%
Silver-21.10%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
SLS Solstice MineralsAU$1.17157.1%
+AU$81.7m		550.0%PB6.6x
PC2 PC GoldAU$0.7224.1%
+AU$38.4m		n/aPB19.9x
AAR Astral ResourcesAU$0.278.2%
+AU$36.0m		96.3%PB5.5x
TM1 Terra MetalsAU$0.3510.9%
+AU$27.7m		1,083.3%PB37.4x
FXG Felix GoldAU$0.359.4%
+AU$14.8m		159.3%PB4.4x

Latest News

NST
AU$26.77
Northern Star Resources
7D
-7.5%
1Y
51.0%
RMS
AU$4.34
Ramelius Resources
7D
-8.1%
1Y
65.6%

RMS: Buyback And Production Expansion Will Support Future Share Returns

Analysts have lifted their fair value estimate for Ramelius Resources from A$6.05 to A$6.50, citing updated assumptions for revenue growth, profit margins and a slightly lower future P/E multiple following recent mixed broker views. Analyst Commentary Recent research on Ramelius Resources shows a mix of views, with some bullish analysts focusing on valuation support and the company’s growth profile, while others are more cautious.
GMD
AU$6.65
Genesis Minerals
7D
-12.4%
1Y
105.9%
CMM
AU$12.96
Capricorn Metals
7D
-12.4%
1Y
62.8%
PRU
AU$5.34
Perseus Mining
7D
-9.5%
1Y
87.4%
STK
AU$0.20
Strickland Metals
7D
2.6%
1Y
167.1%
SLS
AU$1.17
Solstice Minerals
7D
157.1%
1Y
550.0%
AAR
AU$0.27
Astral Resources
7D
8.2%
1Y
96.3%
VAU
AU$5.08
Vault Minerals
7D
-13.6%
1Y
90.6%
EVN
AU$14.34
Evolution Mining
7D
-2.5%
1Y
142.6%

EVN: Rich Precious Metal Assumptions Will Likely Cap Future Share Upside

Narrative update The analyst price target for Evolution Mining has been lifted to A$13.75 from A$12.45, with analysts pointing to updated models that reflect their new precious metals price deck and refreshed assumptions for revenue growth, profit margins and future P/E multiples. Analyst Commentary Bearish analysts have shifted to a more cautious stance on Evolution Mining, even as their price target has been set at A$13.75 compared with the prior A$12.45.
PC2
AU$0.72
PC Gold
7D
24.1%
1Y
n/a
GGP
AU$11.87
Greatland Resources
7D
-9.7%
1Y
n/a
TM1
AU$0.35
Terra Metals
7D
10.9%
1Y
1,083.3%
FXG
AU$0.35
Felix Gold
7D
9.4%
1Y
159.3%
GML
AU$0.073
Gateway Mining
7D
4.3%
1Y
217.4%
BCM
AU$0.029
Brazilian Critical Minerals
7D
16.0%
1Y
262.5%